Check Before You Invest : MSTC Ltd

Q: Which industry/sub-sector does MSTC Ltd belong to?

MSTC Ltd belongs to the Retail sector, operating specifically within the e-Commerce segment.

Q: Is MSTC Ltd a good quality company?

MSTC Ltd is a good quality company, based on a consistently good multi-year financial track record. This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q: Is MSTC Ltd undervalued or overvalued?

MSTC Ltd appears Fair, as its key valuation ratios are in line with their past averages. Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more. Valuation Ratios. Price to Earnings, Current: 14.06, Historic Median: 13.30. Price to Book, Current: 3.33, Historic Median: 4.83. Price to Sales, Current: 8.81, Historic Median: 9.12. EV to EBITDA, Current: 7.21, Historic Median: 9.20

Q: Is MSTC Ltd a good buy now?

MSTC Ltd is a neutral opportunity now, based on stable price trend analysis suggesting prices may move sideways. However, you need to check its quality and valuation before making a decision

Q: Revenue growth of MSTC Ltd?

MSTC Ltd revenue growth is -1.7% for FY-2025, which is above its 5-year CAGR of -17.84%, indicating faster growth.

Q: Gross Profit margin of MSTC Ltd?

MSTC Ltd Gross profit margin which is the profit after deduction of direct costs, is 80.3% for FY-2025, which is in line with its 5-year median of 80.3%, indicating stable margins.

Q: Operating Profit Margin of MSTC Ltd?

MSTC Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 55.82% for FY-2025, which is above its 5-year median of 28.21% indicating increasing margins.

Q: Net Profit Margin of MSTC Ltd?

MSTC Ltd Net Profit Margin is 129.59% for FY-2025, is above its 5-year median of 54.36%, indicating increasing margins. Profitability Metrics. Gross Profit Margin (%), Current: 80.3, Historic Median: 80.3. Operating Profit Margin (%), Current: 55.82, Historic Median: 28.21. Net Profit Margin (%), Current: 129.59, Historic Median: 54.36

Q: Return on Asset of MSTC Ltd?

MSTC Ltd Return on Asset is 16.74%, which is above its 5-year historical median of 10.4%, indicating improved asset utilization efficiency.

Q: Return on capital employed (ROCE) of MSTC Ltd?

MSTC Ltd Return on capital employed is 59.1% for FY-2025, which is above its 5-year historical median of 39.64%. The current ROCE is above its estimated weighted average cost of capital (WACC) of 14%, indicating value creation.

Check Before You Invest : MSTC Ltd

BSE: 542597 NSE: MSTCLTD ISIN: INE255X01014

| Sector: Retail | Industry: e-Commerce

Snapshot

Q.1 Which industry/sub-sector does MSTC Ltd belong to?

MSTC Ltd belongs to the Retail sector, operating specifically within the e-Commerce segment.

Q.2 Is MSTC Ltd a good quality company?

MSTC Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q.3 Is MSTC Ltd undervalued or overvalued?

MSTC Ltd appears Fair, as its key valuation ratios are in line with their past averages.

Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more.

Valuation Ratios	Current	5-year Historic Median
Price to Earnings	14.06	13.30
Price to Book	3.33	4.83
Price to Sales	8.81	9.12
EV to EBITDA	7.21	9.20

Q.4 Is MSTC Ltd a good buy now?

MSTC Ltd is a neutral opportunity now, based on stable price trend analysis suggesting prices may move sideways. However, you need to check its quality and valuation before making a decision

Performance Analysis

We have analysed the performance of the company on the following:

How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.

A: What are the trends in revenue and profit margins?

Q.1 Revenue growth of MSTC Ltd?

MSTC Ltd revenue growth is -1.7% for FY-2025, which is above its 5-year CAGR of -17.84%, indicating faster growth.

Q.2 Gross Profit margin of MSTC Ltd?

MSTC Ltd Gross profit margin which is the profit after deduction of direct costs, is 80.3% for FY-2025, which is in line with its 5-year median of 80.3%, indicating stable margins.

Q.3 Operating Profit Margin of MSTC Ltd?

MSTC Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 55.82% for FY-2025, which is above its 5-year median of 28.21% indicating increasing margins.

Q.4 Net Profit Margin of MSTC Ltd?

MSTC Ltd Net Profit Margin is 129.59% for FY-2025, is above its 5-year median of 54.36%, indicating increasing margins.

	Current Level	5-year Historic Median
Gross Profit Margin (%)	80.3	80.3
Operating Profit Margin (%)	55.82	28.21
Net Profit Margin (%)	129.59	54.36

B: Does the business utilize capital efficiently?

Q.5 Return on Asset of MSTC Ltd?

MSTC Ltd Return on Asset is 16.74%, which is above its 5-year historical median of 10.4%, indicating improved asset utilization efficiency.

Q.6 Return on capital employed (ROCE) of MSTC Ltd?

MSTC Ltd Return on capital employed is 59.1% for FY-2025, which is above its 5-year historical median of 39.64%. The current ROCE is above its estimated weighted average cost of capital (WACC) of 14%, indicating value creation.

Q.7 Return on Equity (ROE) of MSTC Ltd?

MSTC Ltd Return on equity is 56.9% for FY-2025, which is above its 5-year historical median of 45.16%, indicating the business is making better use of its shareholders capital.

Q.8 Cash conversion cycle of MSTC Ltd?

MSTC Ltd Cash conversion cycle is -58 days, in line with its 5-year historical median of -58 days, indicating stable working capital management. However, you need to compare this with its peers in the industry.

	Current Level	5-year Historic Median
Asset Turnover (x)	0.13	0.15
ROE (%)	56.9	45.16
ROCE (%)	59.1	39.64
Cash Conversion Cycle	-58 days	-58 days

C: How much debt does the business have and is it at a sustainable level?

Q.9 Debt to Equity ratio of MSTC Ltd?

MSTC Ltd Debt-to-Equity ratio is 0.19, which is above the industry average of 0.11, indicating higher debt levels in the industry.

Q.10 Debt to cash flow from operations of MSTC Ltd?

MSTC Ltd Debt to cash flow from operations is 0.56, which is at a healthy level.

Ownership & governance

D: Promoter shareholding and pledge status of MSTC Ltd?

Q.1 Promoter shareholding and pledge status of MSTC Ltd?

Promoters hold 64.75% of the MSTC Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Peer comparison (industry-wise, mcap)

E: How does MSTC Ltd performance compare with that of its Peers?

Q.1 Revenue growth of MSTC Ltd vs industry peers?

MSTC Ltd revenue CAGR is -17.84%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.

Profit Metrics

	Current Level	5-year Industry Median
Revenue Growth (%)	-1.7	0
Gross Profit Growth (%)	-14.4	20.6
Operating Profit Growth (%)	95.5	25.4
Net Profit Growth (%)	134.3	30.3

Operating Efficiency

	Current Level	5-year Industry Median
Asset Turnover (x)	0.13	0.5
ROE (%)	56.9	10.08
ROCE (%)	59.1	7.66
Cash Conversion Cycle (days)	-58.29	9

Valuation & price assessment

Q.1 Stock return of MSTC Ltd over the last decade?

Over the last 5 year(s), the stock has delivered a CAGR of 8.87% based on the current price.

	9Y	5Y	3Y	1Y
Share Price CAGR	-	8.9%	10.2%	-22.3%

Q.2 Valuation ratios of MSTC Ltd vs historical?

The current P/E ratio of 14.06 is higher than its historical median of 13.30, indicating that the stock is trading above its historical average valuation.

Q.3 How do the current valuation ratios compare with 5-year historical median and industry numbers?

Valuation Ratios	Current	5-year Historic Median	5-year Industry Median
Price to Earnings	14.06	13.30	31.46
Price to Book	3.33	4.83	5.00
Price to Sales	8.81	9.12	7.95
EV to EBITDA	7.21	9.20	18.70

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Check Before You Invest : MSTC Ltd

Snapshot

Performance Analysis

Ownership & governance

Peer comparison (industry-wise, mcap)

Profit Metrics

Operating Efficiency

Valuation & price assessment

Check more companies

Check trending companies

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